Neal James R 4

What Happened

• Director Neal James R had a derivative instrument converted/exercised on 2026-06-26 that resulted in the receipt of 203 shares of Processa Pharmaceuticals (PCSA). The filing shows the acquisition with no purchase price (N/A) and a corresponding disposition of the derivative instrument at $0.00 — this reflects the conversion/distribution of a time‑based service award, not a market sale or cash exercise. Footnote F1 confirms this was a distribution of a time‑based service award.

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-30.
• Shares involved: 203 shares acquired via conversion; the derivative was recorded as disposed (203 shares) at $0.00.
• Price/Value: No cash paid or received (acquisition price listed as N/A; disposition $0.00). Total cash value shown: $0.
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: F1 — distribution of a time‑based service award.
• Filing timeliness: Filing date is 2026-06-30 for a 2026-06-26 transaction; the form does not indicate a late filing flag in the provided data.

Context

• This appears to be a vesting/distribution of a time‑based equity award (compensation), converted into shares. It is not an open‑market purchase or sale, and such awards are routine forms of director/executive compensation. These transactions reflect compensation events and do not, by themselves, indicate the insider buying or selling stock for investment reasons.